Yes Yes, money is not everything, but everything needs money.
Cancer may not be cured, but the best cancer protection plan can help you financially.
The Elderly in the family is always said to spend money wisely. They would mention spending the amount only that you can afford to lose. Not a word the elder generation mentioned for money is wrong.
Finances have always been a vital support for families who have faced a crisis. Whether monetary or health emergencies, you are all sorted if you have a robust financial base. But if not, then you must think. Out of all the situations, one thing that often brothers in the present times is sudden medical challenges. For example, Cancer is on the rise. Instead, there is nothing wrong to mention that the number of cancer patients is increasing at an alarming rate.
In India, there are approximately 13.9 lakhs cancer patients, which can increase to an estimate of 15.7 lakhs patients by 2025. When the risk is high, the safety must be strong. Let us read how you can prepare yourself to win over cancer problems.
Cancer: How does it affect a family?
The story of every cancer patient and the family is full of fear and devastation. Besides the emotional trauma, one thing that disturbs them is poor finances. Not everyone can handle the pressure of lack of funds and yet manage the cost of treatment or living expenses. These are the weak times when people tend to look for monetary support from outside. They would take loans or help, but not everyone is blessed to benefit. Asking for money could be playing with your self-esteem.
If that is the case with you also, why not prepare a financial cushion for the family for the times that are unexpected and unpleasant. Cancer is one example of a situation where every individual in the family feels stressed and deprived.
What is the solution, then?
Ever heard of a cancer protection plan?
If not, then read further. Trust life will be better and respected after this.
What is a Cancer Protection Plan?
A cancer protection plan is a health plan that provides a lump sum benefit to the life insured right after the diagnosis of the disease. The amount of money received from the claim can be used for the treatment of Cancer. A portion of it can also be used to manage the living expenses if the breadwinner is suffering from the disease.
The best part of owning a cancer insurance policy is that you do not have to submit medical bills for the claim money. The diagnosis report that confirms the cancer stage will be sufficient for you to prove the illness.
How a Cancer Protection Plan Can Assist When It’s Most Needed?
Cancer can hit anyone and at any time. But, unfortunately, 93% of cancer patients do not have cancer insurance to fight the disease. As a result, they fall deprived of money and hence are not able to take the quality treatment.
For sure, in life, you must have come across a case where you would have seen a family and the members battle with the disease. But, if you have witnessed a case, you will be a better judge to understand how a cancer protection plan turns out to be a saviour. These are the ways in which the cancer protection plan can help you:
Lump-Sum Payment: If the life insured is diagnosed with the early stage of Cancer, you will get 30% of your sum assured. The rest, 70%, will be paid if you face the double trouble of the significant stage. But if the life insured is tested with a significant stage of Cancer, they will get 100% of the lump sum payment. After the diagnosis, you need money to start early with the treatment.
Another thing you would not want to compromise is the quality of the medical facility. The cost of cancer treatment can go high up to Rs.20 lakhs or above in India. This is where a cancer protection plan in India will help you. The cancer insurance plan can offer you a sum assured coverage of up to Rs.50 lakhs.
Waiver of Premium: When the life insured acquires Cancer, expenses stress them the most. The intent of the whole family is to save money so that they sail effortlessly through the situation. The cancer protection plan provides you with the benefit of a premium waiver for 5 years after you are diagnosed with the early stage of Cancer.
Monthly Income: When the sole breadwinner in the family is laid up with Cancer, the active income also stops. The person will have to stay away from work for the treatment. This is where the cancer policy can help. If you choose the Income Benefit Option at the inception of the policy, you get a monthly income equivalent to 1% of the sum assured for the next 5 years. But the condition applies only if a major stage of Cancer is detected. The monthly income assists you in managing the hassles of monthly expenses.
Provision of Grace Period: The cancer protection plan’s best feature is that if the life insured is not able to pay the premium by the due date, a grace period of 30 days will be given. It is the most appropriate aid in times of difficulty. The policy features allow you ample time to arrange the premium money during the grace period. The best part is that the coverage continues even during this period.
After reading how a cancer protection plan in India can save you, let us read further about the best cancer insurance plan.
Best Cancer Insurance Plan in 2022
Who doesn’t want the best after spending even money?
You reading here would want to buy the best cancer insurance policy so that you are capable enough to save the family against all the odds. India’s best cancer insurance plan would be Aditya Birla Sun Life Insurance Cancer Shield Plan. These are the features of the insurance policy:
- The cancer protection plan covers all stages of Cancer.
- It gives you an option to choose the level or increase cover. You have the choice to keep the sum assured at the same level or increase it. The conditions apply for details you can read the product brochure.
- The plan gives premium waiver benefits.
- The insurance policy comes with the option to receive a monthly income.
- The cancer insurance policy is readily available for people from 18 to 65 years of age.
- The minimum sum assured allowed is Rs.10 lakhs, and the maximum sum assured is Rs.50 lakhs.
Conclusion:
Cancer can break the back of families who cannot afford the cost of its treatment. For people like these, cancer insurance policies can be a saviour. The cancer plan can provide immediate money that prevents the family savings from draining. It also provides umpteen financial support to not compromise the quality of treatment. For more details on cancer insurance, you can also read here.
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